Sobha sees 13% jump in net profit for Q1 FY19

Sobha sees 13% jump in net profit for Q1 FY19
08/08/2018 , by , in News/Views

Real estate builder, Sobha has reported a 13% jump in its net profit to Rs 53.4 crore for then first quarter of the financial year as compared to the same period last year.

J.C. Sharma, Vice Chairman and Managing Director, SOBHA said, “More importantly, the overall market scenario is beginning to look better with demand picking up across all regions and segments.This is despite a slight increase in the interest rates on home loans due to increase in repo rates by RBI.”

The Bengaluru based firm registered a turnover of Rs.610 crore during the first quarter of the financial year 2018-19 as compared to Rs 689 crore during the corresponding quarter last year.

During the quarter, the company has generated net positive operational cash flows of Rs.80 crore after meeting interest and tax expenses.

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